# Insurate

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/insurate

- Industry: Insurance
- Headquarters: Omaha, US
- Website: www.insurate.com
- Total disclosed funding: $4.5M
- Latest round: Seed (Oct 4, 2021)
- Investors on record: 5

## About

Insurate, Inc. is a specialized provider of Workers' Compensation insurance, focusing on high-hazard industries and complex risk profiles through advanced AI and data science to optimize underwriting processes.Founded in 2019 in Omaha, US, Insurate, Inc. delivers tailored Workers' Compensation insurance solutions. Led by CEO Joe McIlhon, the firm raised USD 4.5 mn in Seed funding in October 2021, led by Hudson Structured Capital Management with participation from Foundation Capital, Revolution Ventures, Clocktower Technology Ventures, and Sure Ventures. The company has executed one funding deal to date, raising a total of USD 4.5 mn, which reflects its successful position in the insurance sector.Insurate specializes in providing Workers' Compensation insurance tailored for high-hazard industries and complex risk profiles. The company leverages advanced artificial intelligence and data science underwriting to optimize the insurance process, delivering lower premiums and exceptional support to its clientele. Insurate’s core offerings are designed for best-in-class companies that require comprehensive coverage and risk management solutions, benefiting sectors like construction, manufacturing, and transportation, where traditional insurance models may fall short. The company serves a diverse client base across various geographical markets, including the United States and select regions in Europe, ensuring targeted solutions that address unique risk exposures.Insurate operates on a transactional B2B model, generating revenue through the sale of its Workers' Compensation insurance products. The company partners with businesses in high-hazard sectors, offering tailored insurance packages that align with specific needs. The pricing structure reflects the risk profile of each client, incorporating factors such as industry classification and historical claims data. Insurate’s flagship offering includes customized insurance solutions that adapt to evolving client needs, ensuring compliance with regulatory requirements while providing robust financial protection. Revenue is derived from premiums collected at the policy inception, with periodic assessments to adjust coverage and pricing based on claims experience and risk evaluations.Following the recent Seed funding round of USD 4.5 mn closed in October 2021, Insurate is set to enhance its product offerings and expand into new markets. The company is developing new insurance solutions tailored for emerging industries and anticipates launching these products by mid-2023. Plans for geographic expansion include entering additional European markets, targeting regions with high industrial activity by 2024. The recent funding will be utilized to support product development and facilitate market entry strategies.

## Funding rounds

- Seed, Oct 4, 2021, $4.5M — Foundation Capital, Revolution Ventures, Clocktower Technology Ventures, Hudson Structured Capital Management, Sure Ventures

## Investors

- Foundation Capital (https://capitalatlas.ai/funds/foundation-capital) — Seed
- Revolution Ventures (https://capitalatlas.ai/funds/revolution-ventures) — Seed
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Seed
- Hudson Structured Capital Management (https://capitalatlas.ai/funds/hudson-structured-capital-management) — Seed
- Sure Ventures (https://capitalatlas.ai/funds/sure-ventures) — Seed